Answer:
The nominal annual interest rate is 15%.
The effective interest rate is 16.08%.
Step-by-step explanation:
$9,375 = $325 (P/A, i%, 36)(P/A, i%, 36)
= $9,375/$325= 28.846
From compound interest tables, i = 1.25%
Nominal Interest Rate= 1.25 x 12= 15%
Effective rate = (1+ (0.15/36))^36-1=1.004^36-1= 16.08%
The answer to your question is Compound! I think
Answer:
Consider the number of children to be x.
So, 144 coins were divided amongst x children.
For x-3 children, each child would have 16 coins
So, (x-3)*16=144
Solving for x, x-3=144/16
or x-3=9
or x=9+3=12
Answer is 12
It will take under 10 seconds to hit the ground
